HC Private Investments has formed a strategic partnership with Janey and John Hubschman, the co-founders of Epicurean Butter Company Inc., a manufacturer of finishing butters for the retail and foodservice industries. As part of the partnership, the Hubschman’s are remaining in senior leadership roles and maintaining a significant minority ownership stake in the company.
Chicago-based HCPI is providing capital intended to support the company’s strong sales growth and ability to execute on strategic investments in manufacturing capabilities and personnel to serve the company’s existing customer base. Terms of the transaction were not disclosed.
Founded in 2004 and located in Federal Heights, Colorado, Epicurean Butter seeks to enable consumers, personal chefs and foodservice professionals to bring restaurant-quality flavors into their own kitchens without additional prep-time or cooking knowhow. Epicurean Butter’s products are made with all-natural and premium ingredients and are sold as branded and private label products through grocery retail and foodservice channels.
“We are thrilled to be partnering with Janey and John to support Epicurean Butter’s tremendous growth and to broaden its appeal among both new and existing customers,” HCPI Managing Partners John P. Kelly and Matthew J. Moran said in a joint statement. “As a category, finishing butter remains in its infancy and we are seeking to capitalize on broader market adoption and expand the company’s market share as consumer demand for premium, high quality, clean label products continues to increase.”
As part of the transaction, two experienced HCPI operating partners will join the company’s management team and the board of directors. Tony Engel, who held executive roles at Wild Oats, Whole Foods and Agrium will join as CFO. Tom Maddi, who held executive roles at Barilla Pasta and Dawn Foods, will join the company’s board of directors.
Janey Hubschman added: “We are excited to welcome HCPI as both a capital and strategic partner to support our customer base and growth initiatives. We look forward to leveraging the operating expertise of HCPI as we seek to build upon our significant success to date for the opportunities ahead, while maintaining our core values of quality and service.”
Winston & Strawn LLP served as legal counsel to HCPI. Integris Partners served as financial adviser to Epicurean Butter. Signature Bank provided debt financing for the transaction.
